“With Big Data, things that once seemed impossible are now at hand.” José Ruiz Big Data Manager at Paradigma
The massive amounts of data moving on the Internet (terabytes, petabytes…) have created the need for a technology that allows companies to extract value from this data efficiently in time and money. This technology is what is known as Big Data.
Companies can follow the behavior of their customers to get useful information that can be transformed into economic benefits. Any data can be analyzed, stored both consciously or not.
All the analysts consider Artificial Intelligence as the transformational technology of the upcoming years
Useful information from all types of data
One of the most important aspects of Big Data is the possibility to treat a variety of data, many until recently ignored because of the difficulty involved in accessing them. These data types are not only structured:
Structured
Unstructured
Semi-structured
Big Data: a whole internet for every user
And where does the data come from?
- Websites and Social Media: The information generated when navigating a web, when we send messages by WhatsApp, we post on Facebook, post information on a blog…
- Generated by people: They can be voice messages recorded in a call center, emails, medical studies…
- Large data transactions: As those made in banks, claims, receipts, billing…
- Machine to Machine: The linking of data collected by different devices or machines that collect temperature, pressure, salinity…
- Biometrics: Contributed by readers face recognition, DNA strand readers, monitor activity and heart rate…
The most important concepts of Big Data
Most experts speak of three important concepts (3 “Vs” volume, velocity and variety). Other trends add four more to this “V” classification (visualization, veracity, variability and value), as proposed in 2013 by Mark Van Rijmenam.
Volume
The digital universe continues to grow. Much of this information may seem irrelevant now, but maybe in the future it may be useful. To give us an idea, in the last two years 90% of all data created worldwide has been generated and is expected to grow over the next decade by 44. The Internet-mobile, e-commerce, social media … revolution generate continuous stream of information.
Velocity
It refers to the speed at which data is generated as well as its processing, storage and analysis by databases.
Veracity
Although there is general agreement regarding the potential value of Big Data, these data are worthless if they are not correct.
Value
The current purpose, the extraction of the value of all the stored information. And the potential is huge value.
Variability
It refers to data whose meaning is constantly changing.
Visualization
After processing the data, it is necessary to present it visibly and accessible. This is one of the great challenges of Big Data.
Variety
In relation to the three types of data previously mentioned (structured, unstructured and semi-structured). 90% of the total belongs to unstructured.